Mass Spectrometry Market: Potential and Niche Segments, Geographical Regions and Trends 2023

Mass spectrometry is an analytical technique that determines and identifies the amount of a compound in a sample and allows a trace of the trace even at microscopic concentrations. It is used both quantitatively and qualitatively to detect unknown compounds and to calculate the isotopic composition of specific elements within the molecule. It can also be used to determine the structure of a compound by observing its fragments. The global mass spectrometry market accounted for $4,598 million in 2016 and is estimated to reach at $7,922 million by 2023, registering a CAGR of 8.0%.

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KEY FINDINGS:

• China is expected to grow at a CAGR of 9.7% in the Asia Pacific market.

• North America has dominated the worldwide mass spectrometry market and is expected to grow at a CAGR of 7.5%.

• The hybrid mass spectrometer sector is expected to grow at the highest rate during the analysis period.

• The pharmaceuticals segment contributed the highest revenue in 2016 and is expected to continue to dominate in the future.

• The food and beverage division is expected to grow at an annual average growth rate of 8.5%.

The mass spectrometer provides information on the molecular weight of the compound. Used in conjunction with combustion analysis, it can be used to determine the molecular formula of an unidentified compound by calculating the relative proportions of oxygen, carbon, and hydrogen. In addition, the presence of specific elements can be detected depending on the availability of isotopes in large quantities. The combination of mass spectrometry and other identification techniques can be applied to the detection of unidentified compounds, for example, carbon and proton NMR and IR spectroscopy.

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MARKET PLAYERS:

• Bruker Corporation
• Thermo Fisher Scientific Inc.
• Perkinelmer Inc.
• Shimadzu Corporation.
• Kore Technologies Ltd.
• Dani Instruments S.P.A.
• Leco Corporation.

The pharmaceutical division was the largest source of revenue in 2016 and is expected to continue this trend due to the need for accurate analytical technology in the future. With the development of the hybrid mass spectrometer sector, hybrid mass spectrometers are expected to grow at the highest rate in the technology sector.

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